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Re: End of Lease Strategies?

Posted: Sun Mar 11, 2018 7:49 am
by AtomicCEO
I'm still a few months out from my lease end on my 2015, but I'm pretty disappointed so far. I've only talked to my original dealer, and I was offered $9400 on my $10,800 buyout.

The last time I had to buy out a lease on a Suzuki, the price kept going down as the date approached, but I don't know if that will happen this time. When I'm down to 3 weeks out, I'll probably reach out to other dealerships via email to see what they will offer. It sounds like that's the strategy.

Its super frustrating that it looks like offers were several thousand less just 4 months ago, and Nissan is artificially jacking with it. Not that long ago I was saying "Absolutely I will buy this car!" but now I'm looking around at other options. New Focus EVs, Volts, and Bolts look like pretty good values. I wish the Ioniq was available outside California because my 2005 Hyundai was still a great car after 10 years.

Re: End of Lease Strategies?

Posted: Sun Mar 11, 2018 9:47 am
by torabb
34 cents/mile would be terrible. You're not accounting for the fact that my buyout is going for future miles being driven. What I paid for my lease versus the miles driven under my lease is the only hard number (18.5 cents/mile). Cost of buyout versus future miles is an educated guess -but It appears to me I'll do well.

My total payment was around $235*56 months = $13,160. I also paid tax on the $7500 rebate = $488. So my per mile cost was $13,648/73,750 miles = 18.5 cents per mile. I've been averaging slightly less than 3 cents per mile in electricity.

Now that I have a new lizard battery I've set it to 80% max charge and I'm no longer experimenting with max range and turtle mode. I'm going to baby this battery and expect to easily get another 73,750 miles. Based on that my future cost for the almost $8k buyout (once all the fees were added in) is 10.8 cents per mile.

At the end of the day this car is just for commuting. Money I don't spend commuting is money I have for family. I need to make it a minimum of 20 miles between home and work (chargers at each end). I know of no cheaper way to do that besides biking - and I'm way too lazy for that. I've always done my own car maintenance from oil changes to engine rebuilds. On this car I do practically nothing - what's not to love about that.

Re: End of Lease Strategies?

Posted: Tue Mar 13, 2018 11:29 am
by DuncanCunningham
torabb wrote:34 cents/mile would be terrible. You're not accounting for the fact that my buyout is going for future miles being driven. What I paid for my lease versus the miles driven under my lease is the only hard number (18.5 cents/mile). Cost of buyout versus future miles is an educated guess -but It appears to me I'll do well.

My total payment was around $235*56 months = $13,160. I also paid tax on the $7500 rebate = $488. So my per mile cost was $13,648/73,750 miles = 18.5 cents per mile. I've been averaging slightly less than 3 cents per mile in electricity.

Now that I have a new lizard battery I've set it to 80% max charge and I'm no longer experimenting with max range and turtle mode. I'm going to baby this battery and expect to easily get another 73,750 miles. Based on that my future cost for the almost $8k buyout (once all the fees were added in) is 10.8 cents per mile.

At the end of the day this car is just for commuting. Money I don't spend commuting is money I have for family. I need to make it a minimum of 20 miles between home and work (chargers at each end). I know of no cheaper way to do that besides biking - and I'm way too lazy for that. I've always done my own car maintenance from oil changes to engine rebuilds. On this car I do practically nothing - what's not to love about that.

+1

Re: End of Lease Strategies?

Posted: Tue Mar 13, 2018 3:23 pm
by LeafMuranoDriver
I'm starting to get ready to email a few local dealers to see what deals I can get on buying out my 2015 S model. Residual is $10,400.

Does anyone have a letter they have sent dealers about the same thing they could copy/paste here so I have somewhere to start.

Re: End of Lease Strategies?

Posted: Mon Mar 19, 2018 1:06 pm
by LeafMuranoDriver
Anyone recently buy out their lease? Any deals from any dealers?

Re: End of Lease Strategies?

Posted: Mon Mar 19, 2018 2:34 pm
by DuncanCunningham
It's all about the market price. If the market lists a 2015 for $10,000 they are not going to offer you a buy out much less than that. I was lucky. I approached them when the 2015 was selling for $9000 and my res was $17,500 and they offered me a buyout that would bring the final price, Inc taxes, reg etc to about $9000.. so I got an insanely great discount of $8000 minus a kick back for the dealership. I was probably one of the last to get that.

Re: End of Lease Strategies?

Posted: Thu Mar 22, 2018 12:52 pm
by venkatagupta
After going back and forth, finally did a lease buy out of my 2015 Leaf S, Quick charger. I don't know that we can go any time and do a buyout otherwise, I would have utilized super offers past year.

Here are the details, Residual Value, $12200, Buy out price $10700 ($1500 discount, on road after all kind of taxes, $12100.

I have a damage to my car which is not visible though but should get fixed (Approx 2.5K, to replace bumber and fender) while lease return. hence I had to go for buy option

Re: End of Lease Strategies?

Posted: Thu Mar 22, 2018 2:01 pm
by LeftieBiker
If you like the car that's a good deal. I can't even consider buying mine - which isn't really bad news since it's lost range and has no QC.

Re: End of Lease Strategies?

Posted: Thu Mar 22, 2018 3:52 pm
by venkatagupta
Its not a good deal when compared to previous year offers and in general also as we can get SL for the same price outside now. Mine is 36K miles, 100% usage of limit. For my situation due to cosmetic damage I had to buy. Anyway I am ok with the car and not ready to getting into another lease terms of 3yrs. I have posted just to provide latest info to the people like me who are thinking to buy.

Re: End of Lease Strategies?

Posted: Thu Mar 22, 2018 5:51 pm
by Nubo
Seems it's still worthwhile to shop around. I contacted close to 10 dealerships. Most of them were adamant that no dealing was going to take place whatsoever. But I found one salesman willing to work with me. Residual was reduced about $1400, and about another $1000 savings from waiving various fees and lower sales tax. Not an earth-shattering deal but certainly better than throwing up my hands and going to the nearest dealer. Total was under $12,200 for 12-bar 2015 SV with LED and QC. And I keep getting value from my Wet Okole seat covers. :) Car serves my needs for now so I can live with that and we'll see how the 2019 shakes out.